The Silangan project of Philex Mining Corp. is on track to start commercial production by the first quarter of next year, according to its chief executive Eulalio B. Austin Jr.
‘We are still on progress with our Silangan Project, and we are trying to have the first metal by the first quarter of 2026. We are still looking into that target to have that first commercial production in 2026,’ Austin told reporters at the sidelines of the Mining Philippines 2025 Conference and Exhibition on Wednesday.
He said the mine’s tailings plant is now ready to accept tailings from the processing plant.
As far as the mine is concerned, he said the ore body is already reached.
‘We are now stockpiling ore coming from the underground, ready for processing. What we are looking at is to finish the mechanical installation of the processing plant by the end of December.’
By the first month of 2026, he said Philex will start debugging the processing plant in time for the first metal output towards the end of the first quarter.
Silangan is envisioned to start small, producing at a capacity of 2,000 tons per day.
Once revenues are generated, he said production will be ramped up in the fourth year of 2026.
‘And then once we get another money, we ramp it up again on the tenth or twelfth year.
We will reach the maximum capacity of 12,000 tons per day,’ said Austin.
He also said foreign and local investors have expressed interest in the Silangan project.
He added that the current trends in the price of gold in the world market are also favorable to investors at the moment.
‘Copper and gold are on the uptrend in terms of metal prices, and we are all aware that Silangan is a copper and gold company, which means to say that we are in the right direction.’
Meanwhile, Austin said Philex’s Padcal mine continues to operate and produce minerals. He said the life of the mine has been extended to 2028, and exploration is ongoing 1 kilometer away from Padcal, but within the company’s mining tenement in Benguet.